LA SALLE STREET: The Good Competitor

A shy, dignified Chicago bachelor,
Harold Leonard Stuart, 63, head of Halsey, Stuart & Co., last week
walked off with $100,000,000 worth of bond business. Banker Stuart had
won another round in his eleven-year-old war with Wall Street.

The big, erect, white-haired Chicagoan has long campaigned for open
competitive bidding for securities in the railroad and utility fields,
in place of the traditional, privately negotiated deals. Last week the
syndicate headed by Halsey, Stuart plunked down the winning bid for the
largest issue of railroad securities ever offered by competitive
biddingGreat Northern Railway's $100,000,000 in refunding bonds
(TIME, Sept. 4).